"Central banks have become a source of macro volatility, rather than a dampener," says one economist.

They foresee slowing the pace of rate hikes in the near, while emphasizing that a 50 bps increase next month would still be significant.

Facing the hottest cost pressures in 40 years, policymakers have lifted the target for the federal funds rate by 1.5% over the past two months—the steepest increase since the price-fighting era of Paul Volcker in the early 1980s.

As the Fed works to rein in inflation, it risks undermining the bargaining power workers have gained since the start of the pandemic.

Fed signals it will hold interest rates steady through at least 2023.

Proposed legislation would "create a new racial justice mission at the Fed to eliminate racial and economic disparities in all of its work."

Venezuela tops the list again this year, while Poland shows the biggest negative move.

Venezuela tops the list again this year, while Poland shows the biggest negative move.